In the City

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THE brilliance of Slaughter & May as a law firm means that it needs no ornament. The consequence, however, is that being sent one of its rare public statements is rather like being invited into North Korea. It has a deeper, more subtle significance than if it were to emanate from a more pedestrian firm.

Which is why I spent a frantic afternoon puzzling over the information that Slaughters had advised Eurazeo over its acquisition of Europcar, the rental firm, from Volkswagen AG, in a transaction that values Europcar at €3.1 billion.